Segment Results

The Company’s segments are reported on the same basis used internally for evaluating performance and for allocating resources. The Company has four reportable segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Assets of the reportable segments exclude general corporate assets, which principally consist of cash, deferred tax assets, insurance receivables, certain property, plant and equipment, and certain other assets. Corporate consists of corporate office expenses including compensation and benefits for corporate employees, occupancy, depreciation, and other administrative costs.



	Three Months Ended
	March 31,
(in millions)	2017			2016
Net sales
Fluid Handling	$	239.6		$	248.0
Payment & Merchandising Technologies	195.5			172.0
Aerospace & Electronics	163.4			171.7
Engineered Materials	74.9			68.3
Total	$	673.4		$	660.0
Operating profit (loss)
Fluid Handling	$	27.1		$	25.4
Payment & Merchandising Technologies	39.1			28.0
Aerospace & Electronics	32.1			33.1
Engineered Materials	14.0			13.7
Corporate	(15.7		)	(14.7		)
Total	96.6			85.5
Interest income	0.5			0.5
Interest expense	(9.0		)	(9.1		)
Miscellaneous - net	(0.2		)	(0.3		)
Income before income taxes	$	87.9		$	76.6



(in millions)	March 31, 2017		December 31, 2016
Assets
Fluid Handling	$	857.2	$	845.9
Payment & Merchandising Technologies	1,204.6		1,188.9
Aerospace & Electronics	561.5		555.5
Engineered Materials	231.1		224.7
Corporate	596.6		613.0
Total	$	3,451.0	$	3,428.0



(in millions)	March 31, 2017		December 31, 2016
Goodwill
Fluid Handling	$	213.7	$	212.3
Payment & Merchandising Technologies	570.4		563.3
Aerospace & Electronics	202.3		202.3
Engineered Materials	171.3		171.3
Total	$	1,157.7	$	1,149.2

The table below presents net sales by product line for each segment:



	Three Months Ended
	March 31,
(in millions)	2017		2016
Fluid Handling
Process Valves and Related Products	$	148.6	$	155.0
Commercial Valves	69.5		72.4
Other Products	21.5		20.6
Total Fluid Handling	$	239.6	$	248.0

Payment & Merchandising Technologies
Payment Acceptance and Dispensing Products	$	145.9	$	117.7
Merchandising Equipment	49.6		54.3
Total Payment & Merchandising Technologies	$	195.5	$	172.0

Aerospace & Electronics
Commercial Original Equipment	$	82.5	$	90.0
Military and Other Original Equipment	38.0		40.6
Commercial Aftermarket Products	32.1		30.4
Military Aftermarket Products	10.8		10.7
Total Aerospace & Electronics	$	163.4	$	171.7

Engineered Materials
FRP - Recreational Vehicles	$	41.6	$	35.2
FRP - Building Products	24.5		22.5
FRP - Transportation	8.8		10.6
Total Engineered Materials	$	74.9	$	68.3

Total Net Sales	$	673.4	$	660.0